8 Albert Embankment planning decision

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

23 June 2021

U and I Group PLC

8 Albert Embankment planning decision

U+I (LSE:UAI), the specialist regeneration developer, today announces that the Secretary of State (SoS) for Housing, Communities and Local Government has resolved not to grant planning permission at 8 Albert Embankment, U+I's £500 million Gross Development Value (GDV) PPP in Lambeth held in joint venture with London Fire Brigade. This follows its decision to Call In the scheme in June 2020, following resolution to grant planning at Lambeth's Planning Committee on 3 December 2019. Today's decision will not affect development and trading gains in FY2022.

The Company will await the full report and consider its next steps with London Fire Brigade.

ENDS

For further information, please contact: 

U+I

Nicola Krafft

+44 (0) 20 7828 4777

[email protected]

Camarco (Financial PR Adviser)

Geoffrey Pelham-Lane / Tom Huddart

+44 (0)20 3757 4985 / 4991

[email protected] 

LEI number: 213800HTEQQEIOGR5A58

About U+I

U+I are experts in mixed-use regeneration and specialists in Public Private Partnership (PPP).

We use our creative, entrepreneurial and master developer knowledge to created thriving mixed-use places in the London City Region (within one hour's commute from Central London), Manchester and Dublin. We exist to create long-term socio-economic benefit for the communities in which we work and deliver sustainable returns to our shareholders.

To find out more, visit www.uandiplc.com or follow us @uandiplc